Cyber Security RSS

The free market is failing when it comes to cyber security, Britain’s electronic spy chief has warned in a rare public intervention that could pave the way for tougher regulation as the threat of attack becomes “exponential”. “It is time to take a hard look at whether the international market for cyber security is working sufficiently [...]

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Merchants are experiencing an increase in fraud, losing 1.32% of revenue to fraud on average compared to 0.68% in 2014, according to the annual LexisNexis True Cost of Fraud Study. International and m-commerce merchants were hardest hit with losses of 1.56 and 1.68% respectively. Merchants saw an average of 333 fraudulent transactions per month, up [...]

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It has bee revealed that cyber criminals have worked out a way to hack the Chip and PIN card system currently being introduced at businesses throughout the US and widely used throughout Europe. Five French citizens have been convicted of manipulating vulnerabilities in the system with a card-switching technique that included substituting the PIN on a [...]

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Thanks to an international law enforcement operation, the ultra-virulent Dridex malware and related botnet have been disrupted as the US’s DOJ targets a Moldovan man in connection with Dridex malware thefts. But what was crucial to the takedown – and for any such future efforts – was the unprecedented level of collaboration among financial services firms [...]

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Visa and FireEye announced the launch of Visa Threat Intelligence, a cyber intelligence service, Powered by FireEye. Tailored to the needs of the payments industry, this new service will deliver real-time threat information to merchants and issuers so they can quickly assess and act on the most critical cyber-attacks that could breach their payment systems. [...]

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